(IL Gov) Quinn signs campaign finance reform into law one year after Blagojevich arrested

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Source: Chicago Trib

Choosing the symbolic date of the one-year anniversary of ex-Gov. Rod Blagojevich's arrest on federal corruption charges, Gov. Pat Quinn today signed into law the state's first-ever limits on campaign contributions.

The idea behind the law is to limit the influence of money in politics in the wake of Blagojevich, who stands accused of trying to trade state actions in return for campaign contributions and benefits for himself and his family. Among the charges, prosecutors say Blagojevich tried to sell the U.S. Senate once held by President Barack Obama.

Here's what the law does: Individual donors are limited to giving $5,000 each for the primary and general elections. Corporations and unions are limited to $10,000 an election and political action committees could not donate more than $50,000 per election.

Here's what it doesn't do: Cut back the power of the four legislative leaders or take effect until after the 2010 elections.

"When we enact a reform like today, it is not the end but the beginning," Quinn said.

Reform groups who flanked Quinn today at the bill signing ceremony at the Thomspon Center didn't get everything they said was necessary to clean up Illinois politics. But reform groups said they had to sign on to this version of ethics reform lest they blow a chance to take advantage of momentum on the long-stalled issue.

Read more: http://newsblogs.chicagotribune.com/clout_st/2009/12/quinn-signs-campaign-finance-reform-into-law-one-year-after-blagojevich-arrested.html